Jeevan Saathi Summary:

LIC Jeevan Saathi (Table No.89) is specially designed for married couples. It is for husband and wife who wants single policy for joint life risk cover.

Key features:

  • Unique Joint Life Insurance Policy from India’s No.1 Insurance company
  • Tax benefit
  • You can pay monthly, quarterly, half yearly or yearly premiums.

LIC Jeevan Saathi (Table No.89)


Maturity Benefits:
Sum assured plus Bonus are given, if husband and wife are alive upto maturity period.

Death Benefits:
(a) Future premiums are waived and survivor gets Sum Assured immediately on the death of Husband/wife.
(b) He/She gets Sum Assured again with full bonus, if the survivor (husband/wife) survives till maturity.
(c) Sum Assured plus Bonus is paid till that time to the nominee, if the survivor also dies before maturity.

Jeevan Saathi Highlights:

(a) Housewives: Max. Sum Assured is 15 lakhs for graduates having driving license or passport or credit card or mediclaim insurance. You need to submit a Proof.

(b) Females can take this plan without any extra premium who has undergone sterilization lives with 2 cesarean operation.

(c) Females can take this plan without any extra premium, who attained menopause and hasn’t undergone sterilization and lives with 2 cesarean operation.

(d) Maximum SA of 50 lakhs for Female category II and Max. SA of Rs. 2 lakhs is allowed under the plan to self-employed female or housewives live in category III.

(e) Pregnant ladies are not allowed in this plan. Wife need not to be a earning person for SA 2 lakhs or less.

(f) Jeevan saathi is issued only to working couple or wife should be an income tax assesses.

(g) Female has to pay 3% extra premium if she is with 1/2 cesarean operation.

(h) For females lives with 3 or more cesarean operation, this plan is NOT allowed.

(i) To grant insurance cover on Husband’s life, wife’s income is also considered but subjected to certain restrictions. (1) Based on his own income, husband should have been insured fully. (2) Proposer should be the wife. (3) Wife should belongs to female category I/II.

LIC Jeevan Saathi Conditions and Requirement:

  • Min. age at entry:     20 yrs
  • Max. age at entry:     50 yrs
  • Max. Maturity age :   70 years
  • Min. Term  :   15 years
  • Max. Term  :   30 years
  • Accident benefits per 1000 SA     Rs. 2 extra
  • Min. S.A. :    Rs 50000
  • Max. S.A. :    No Limit
  • Modes allowed :    All
  • SA in multiples :    Rs 5000
  • Revival  :   Yes
  • Surrender of Policy:     Yes
  • Housing Loan :    Yes

Mr. Jeevan and Mrs Puja are husband and wife. They buy a Jeevan saathi joint life insurance policy for 20 years term for Rs. 1 Lakh sum assured.

Scenario 1: (a) Unfortunately, if one of the either Mr Jeevan or Mrs Puja expires after some time, the survivor will get  Rs. 1lakh (without bonus) immediately and there will be no need for the survivor to pay future premiums. Again. if he or she survives till the maturity period then He/She will get Rs 1,88,000/- as maturity maturity amount (Rs 1 lakh sum assured + Rs 88,000/- being estimated bonus for full term. (b) In case if both died due to same accident and, if they die within 180 days from the date of accident of the first person then the nominee will get 4 times SA plus bonus accrued till the death. (c) If the survivor dies before the maturity term, then nominee will receive the SA + bonus till that period.

Scenario 2: If Mr.Jeevan and Mrs Puja survive till maturity then they together will get the maturity benefits of Rs 1,88,000 (Rs 1 lakh SA + Rs.88,000/- bonus at an estimated Rs 44 per 1000 per annum.

How to Apply for LIC Jeevan Saathi Policy?

Update: LIC Jeevan Saathi Plan No.89 Has Been Discontinued.

The above is the product summary giving the key features of the plan. This is for illustrative purpose only. This does not represent a contract and for details please refer to your policy document.